The definition of TRADE is __________________.

to buy or sell goods or services

Why does the United States need to import products?

Some are easier and cheaper to make in other countries

The US does not import products

The US makes all of its own products

buying goods from another country

selling goods to another country

only making one kind of product

selling goods to another country

buying goods from another country

only making one kind of product

What would be one consequence of a prolonged decline in the value of the euro relative to the U.S. dollar?

European exports to the United States would become less expensive.

U.S. exports to Europe would become cheaper.

European imports from the United States would increase.

U.S. imports from Europe would become more expensive.U.S. imports from Europe would become more expensive.

How does this agreement negatively affect the U.S. economy? Use the information below to answer the question. Under the North American Free Trade Agreement (NAFTA), the last restrictions on U.S.–Mexican agricultural trade were removed in 2008. Between 2007 and 2008, the value of agricultural exports to Mexico increased by 23%, and the value of imports from Mexico increased by 26% for the main commodities that had been subject to those restrictions.

U.S. farmers will experience more competition

U.S. consumers will pay higher prices for Mexican products.

U.S. agricultural production will become less efficient.

U.S. foreign relations with Mexico will suffer.

International Trade

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Social Studies

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10th - 12th Grade

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Practice Problem

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